Pisiffik A/S

Aktieselskab

An aktieselskab is the Danish name for a stock-based corporation. An aktieselskab can be both publicly traded and private.-Liability:...

 is the largest privately owned commerce company in Greenland

Greenland

Greenland is an autonomous country within the Kingdom of Denmark, located between the Arctic and Atlantic Oceans, east of the Canadian Arctic Archipelago. Though physiographically a part of the continent of North America, Greenland has been politically and culturally associated with Europe for...

. It is a subsidiary of Dagrofa, the Danish

Denmark

Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...

 food concern, with a 85.8% stake. The Government of Greenland  owns the remaining stake in Pisiffik through Greenland Venture. Based in Sisimiut

Sisimiut

Sisimiut is a town in central-western Greenland, located on the coast of Davis Strait, approximately north of Nuuk. It is the administrative center of the Qeqqata Municipality and the second-largest town in Greenland, with a population of 5,460 people as of 2010. The site of the present-day town...

, Pisiffik has 484 employees as of 2010.

History

Pisiffik was founded in 2001 as a privately owned company during privatization

Privatization

Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...

 of parts of the KNI

KNI (Greenland Trade)

KNI A/S is a state-owned trade company in Greenland. Led by Søren Lennert Mortensen, the company is based in Sisimiut.- History :KNI was founded in 1774 as Den Kongelige Grønlandske Handel by the Danish colonial authorities as a state monopoly, thus sharing its origin with Royal Greenland, the...

 group, which had held a monopolistic

Monopoly

A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...

 position on trade in Greenland since the colonial era. After the establishment of Pisiffik, KNI faced competition in select towns in Greenland, even though operations of both companies had not previously overlapped. The opening of the KNI-owned Pilersuisoq

Pilersuisoq

Pilersuisoq A/S is a state-owned chain of all-purpose general stores in Greenland. Based in Sisimiut, it is a subsidiary of KNI, the largest commerce company in the country...

 discount store in Aasiaat

Aasiaat

Aasiaat is a town in the Qaasuitsup municipality in western Greenland. Located in the heart of Aasiaat Archipelago at the southern end of Disko Bay. With a population of 3,005 as of 2010, it is Greenland's fifth-largest town.-Etymology:...

 in 2008 sparked a price war

Price war

Price war is a term used in economic sector to indicate a state of intense competitive rivalry accompanied by a multi-lateral series of price reduction. One competitor will lower its price, then others will lower their prices to match. If one of them reduces their price again, a new round of...

 between Pilersuisoq and Pisiffik, and a competition rights debate in Greenland.

On 16 June 2010, Dagrofa bought most of Greenland Venture's stake in the company, becoming a majority holder.

Operations

Pisiffik's operations are restricted to the six largest towns in Greenland, with stores in Aasiaat

Aasiaat

Aasiaat is a town in the Qaasuitsup municipality in western Greenland. Located in the heart of Aasiaat Archipelago at the southern end of Disko Bay. With a population of 3,005 as of 2010, it is Greenland's fifth-largest town.-Etymology:...

, Ilulissat

Ilulissat

Ilulissat is a town in the Qaasuitsup municipality in western Greenland, located approximately north of the Arctic Circle. With the population of 4,546 as of 2010, it is the third-largest settlement in Greenland, after Nuuk and Sisimiut....

, Maniitsoq

Maniitsoq

Maniitsoq is a town in the Qeqqata municipality in western Greenland. With 2,784 inhabitants as of 2010, it is the sixth-largest town in Greenland...

, Nuuk

Nuuk

Nuuk, is the capital of Greenland, the northernmost capital in North America and the largest city in Greenland. Located in the Nuup Kangerlua fjord, the city lies on the eastern shore of the Labrador Sea and on the west coast of Sermersooq. Nuuk is the largest cultural and economic center in...

, Qaqortoq

Qaqortoq

Qaqortoq is a town in the Kujalleq municipality in southern Greenland. With a population of 3,230 as of 2011, it is the most populous town in southern Greenland, and the fourth-largest town in the country. The name is western Greenlandic and means "[the] white [one]".- History :The area around...

, and Sisimiut

Sisimiut

Sisimiut is a town in central-western Greenland, located on the coast of Davis Strait, approximately north of Nuuk. It is the administrative center of the Qeqqata Municipality and the second-largest town in Greenland, with a population of 5,460 people as of 2010. The site of the present-day town...

.

Brands

The Pisiffik Group includes the following brands:

• Pisiffik (supermarket)
• Spar (groceries)
• Pisattat (electronics)
• Torrak fashion
• Jysk/Idemøbler (furniture and interior decoration)